Snap sets terms for $3bn+ IPO

The Snapchat owner will raise $3.2bn if it floats at the top of its range, and shareholders that could include Tencent, Alibaba and Yahoo will sell 45 million shares in the offering.

Author: Robert Lavine, News Editor

Snap, the US-based social media company backed by internet groups Alibaba, Tencent and Yahoo, set the range yesterday for an initial public offering that would raise up to $3.2bn.

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